After the announcement of Financial Year Budget 2020-21, several automakers in the country hike the prices of its vehicle but IMC Toyota Cars get a massive price hike up to Rs48, 00, 000.
Indus Motor Corporation has sent the new price notice to all its dealership stores across Pakistan and mentioned that the new prices will applicable from 7th July 2020. The new prices are Ex-Factory Prices stated by the IMC Toyota.
on the other side, Pak Suzuki increased the price of its Suzuki Alto 660cc by PKR 63,000 and the new price set off from 7th July 2020.
New Prices of Toyota Cars
See the below table of Toyota car prices:
|Model||Variant||Old Price PKR||New Price PKR||Increase PKR|
|Avanza||M/T Petrol Powered||5,220,000/-||5,790,000/-||570,000/-|
|Prado||3.0 Liter Turbo-Diesel M/T||26,000,000/-||27,930,000/-||1,930,000|
|3.0 Liter Turbo-Diesel A/T||36,700,000/-||39,270,000/-||2,570,000/-|
|4.0 Liter V6 Petrol A/T||38,400,000/-||41,410,000/-||3,010,000|
|Land Cruiser||GX 4.5 Liter V8 M/T (Diesel)||38,900,000/-||41,690,000/-||2,790,000/-|
|VX 4.5 Liter V8 A/T(Diesel)||46,500,000/-||51,370,000/-||4,870,000/-|
|VX 4.6 Liter V8 A/T (Petrol)||48,000,000/-||52,650,000/-||4,650,000/-|
|Hiace Deluxe||Hiace Commuter Deluxe Std|
Roof 2.8 Liter
|Hiace Commuter Deluxe |
High Roof 2.8L
|Hiace Tourer Deluxe |
High Roof AT 2.8L
|Hiace||Standard Roof (Diesel)||5,600,000/-||6,010,000/-||410,000/-|
|Standard Roof Dual |
|High Roof (Diesel)||6,870,000/-||7,350,000/-||480,000/-|
|Standard Roof (Petrol)||5,270,000/-||5,690,000/-||420,000/-|
|Standard Roof Dual|
|Mid Roof Dual |
The company has not mentioned the reason behind this massive price hike. Earlier Toyota has increased the price of its double cabin Toyota Hilux 4*4 vehicle because the tax against double cabin vehicles hiked in the budget speech 2020-21. The government has imposed a 7.5% FED tax on locally manufacture double cabin vehicles and 25% FED tax imposed on imported ones.
The other several car prices increase is unexpected for the customer because the government has not imposed any extra tax on the cars and the dollar strength also remains unchanged.
In the FY budget 2020-21 AAT tax has removed from the vehicles up to 200cc engine power but it’s not shown in the prices of 200cc line vehicles. Rather than the prices of up to 200cc engine power also hikes. Honda Atlas, Pak Suzuki, and Yamaha increased the prices of motorbikes.
The massive increase in prices of vehicles seems like auto manufacturers recovered the loss as the sale badly reduced in the last 4 months due to COVID-19 lockdown.
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